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Future bankers learn how to "get around every rule" at Princeton, says Volcker '49

The Daily Princetonian

Future bankers learn how to "get around every rule" at Princeton, says Volcker '49

Jacob Donnelly

The compensation system gives too much incentive for bankers to take risks, and the University has promoted the view that the markets generally take care of themselves, Paul Volcker ’49, former chairman of the Federal Reserve, said in a panel discussion on Friday. "We have a department at this great University ... teaching people how to get around every rule you can conceive of to make big bonuses at big banks," Volcker said, referring to the Operations Research and Financial Engineering department. Richard Herring GS ’73, professor of international banking at the University of Pennsylvania's Wharton School, said governments typically bail out banks for one of four reasons: they are too big, they are important to key markets, they are interconnected with other important financial institutions or they're complex.

NEWS | 05/30/2014

In surprise event, Flo Rida performs at Princeton reunions

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In surprise event, Flo Rida performs at Princeton reunions

Angela Wang

Flo Rida, a hip-hop artist, performed at the 25th reunion tent in Whitman College on Thursday night, a concert that was initially restricted to Class of 1989 guests but was eventually opened to all Reunions attendees. The decision to open up the concert was a “class decision,” according to a source familiar with the situation. Multiple members of the Class of 1989 told The Daily Princetonian earlier on Thursday evening that Flo Rida was expected to perform. The concert took place on early in the Reunions schedule, on a day when most attendees have yet to arrive on campus.Entertainment chair for the 25th reunion Stephen Consentino ’89 explained that this was due to the artist's schedule, who was unavailable any other day. One of Flo Rida’s most famous songs is “Low,” featuring T-Pain, which became popular around 2008.

NEWS | 05/30/2014

Alumni entrepreneurs discuss most promising investment opportunities

The Daily Princetonian

Alumni entrepreneurs discuss most promising investment opportunities

Jacob Donnelly

The world’s 25 fastest markets account for only 0.4 percent of market capitalization in the world’s stock markets, but also make up 30 percent of the world’s population, Thanassis Mazarakis ’84, COO of Southern Star and former president of Chase Merchant Services, said in a panel discussion Friday about the best investment opportunities.

NEWS | 05/30/2014

Q&A: Former Federal Reserve chairman Paul Volcker '49

The Daily Princetonian

Q&A: Former Federal Reserve chairman Paul Volcker '49

Jacob Donnelly

The Daily Princetonian spoke to former chairman of the Federal Reserve Paul Volcker '49 following a panel discussion in which he participated, titled "Are financial institutions too big or too big to fail?" At the panel, Volcker criticized universities like Princeton for allegedly teaching students how to cheat the financial system. The Daily Princetonian: Do you think the Federal Reserve went far enough in stabilizing the banking system? Paul Volcker ’49: No, I'm not going to answer a question like that. DP: Pretty recently, some economists have suggested that the central bankers took [the threat of] inflation too seriously. PV: I'll give you a simple answer.

NEWS | 05/30/2014
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Princeton holds dialogues on mental health following lawsuit, op-eds

The Daily Princetonian

Princeton holds dialogues on mental health following lawsuit, op-eds

Jacob Donnelly

Following a lawsuit and an outpour of op-eds in The Daily Princetonian, University mental health policy has been at the forefront of campus conversation, prompting administrators to hold dialogues to hear students’ concerns and, in some, cases consider reform. In March, a student filed a lawsuit in federal court against the University alleging that it had engaged in discrimination when handling a case of attempted suicide. In April, a student published an anonymous op-ed in The Daily Princetonian criticizing the administration’s practice of demanding detailed medical records from students who have taken time off for mental health reasons. “If I ever want to return to Princeton as a student, I will have to ‘voluntarily’ waive my right to doctor-patient confidentiality by signing … two forms,” the student wrote.

NEWS | 05/28/2014

TI elects new officers post 21 Club scandal

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TI elects new officers post 21 Club scandal

Lorenzo Quiogue

Tiger Inn elected four new officers on March 31 after all but two officers resigned earlier that month following a party, deemed unauthorized, of the heavy-drinking group called the 21 Club. The elections came after what was officially called a “security breach” at the club on March 9, according to an email obtained by The Daily Princetonian that was sent to members by the club’s graduate board president Robert “Hap” Cooper ’82. Former president Ryan Cash ’15, house manager Dror Liebenthal ’15, treasurer Will Siroky ’15 and safety czar Victoria Majchrzak ’15 offered their resignations to the club’s graduate board of governors after the incident. Oliver Bennett ’15, the vice president prior to the incident, was elected president.

NEWS | 05/28/2014

At Columbia, suit alleges sexual assault investigation discriminated against male student

The Daily Princetonian

At Columbia, suit alleges sexual assault investigation discriminated against male student

Daily Princetonian Staff and Anna Windemuth

Amid a backdrop of intense activism, a male Columbia student is retaliating in federal court against an internal disciplinary conviction of sexual assault. The student, who is only identified as John Doe in the suit filed Monday, alleges that Columbia administrators sought to make an example out of his case, that his rights under Title IX were violated and that administrators succumbed to external pressures from student activists in determining his guilt.

NEWS | 05/19/2014

USG considers student representation before Honor Committee

The Daily Princetonian

USG considers student representation before Honor Committee

Sheila Sisimit

While approving members of the Honor Committee and Committee on Discipline, the Senate debated some of these groups’ practices in its final meeting of the year on Sunday night. Under current protocol, members of the Honor Committee contact students to meet with the committee but do not inform students of whether they are being called in because they are suspects or witnesses. U-Council chair Elan Kugelmass ’14 raised the idea that students should be informed of their position as soon as possible in order to ensure their rights are protected. “When we’re trying to build a system on trust … it doesn’t make sense that we would treat all students with some kind of impression that they’re not going to tell us the truth if we don’t give them the time to think of what to say,” he said. Honor Committee chair Luchi Mmegwa ’14 responded to Kugelmass’ claim saying when a student is called in, the student is able to call in a representative at any point during the meeting and, in some situations, the committee members themselves do not know if the student called forth is a suspect or a witness. U-Councilor Zhan Okuda-Lim '15 noted that when this is the case, it creates a gray area for students who neither fit the description of a witness or a suspect. Although some members of the senate described this “gray area” as troubling with regard to ensuring the student's right to representation, Mmegwa said, “With regards to gray area, what I was meaning to say was that we never have a situation where we are calling someone who may be a suspect, but not treating them with their rights.” He added that when students are called into the office, the student is able to decide which course of action to take before proceeding with the investigation and case. “Students who come before the Honor Committee, even in investigatory phase, should be informed of status and rights and should not be left wondering if there were charges brought against them,”Kugelmass said. According to Kugelmass, Associate Dean of Undergraduate Students Victoria Jueds, who serves as secretary of the Committee on Discipline, said that she didn’t think it was necessary for students to have representation during the first meeting. Kugelmass asked the six nominees for the Honor Committee whether they “support all efforts to quickly inform all students whether they are suspects or witnesses.” He proceeded to ask the same question to the five nominees for the Committee on Discipline. All nominees agreed and were approved for their positions. The Senate also elected two new Council of the Princeton University Community executive committee representatives — U-Councilors Danny Johnson ’15 and Okuda-Lim.

NEWS | 05/11/2014

Princeton revises yield, new yield now higher than last year

The yield has increased since the University reinstated an early admission round.

Princeton revises yield, new yield now higher than last year

Corinne Lowe

Following an announcement Thursday, the University has revised its official yield rate for the Class of 2018, increasing it to 69.2 percent, which actually marks a slight increase from last year's yield of 68.7 percent. Dean of Admission Janet Rapelye explained in an interview Friday that the number provided to The Daily Princetonian on Thursday -- a yield of 67.4 percent — did not include Bridge Year students.

NEWS | 05/11/2014

‘Gray areas’: Who can use the ‘Princeton’ name?

The Daily Princetonian

‘Gray areas’: Who can use the ‘Princeton’ name?

Sharon Deng

Colleen McCullough ’12 was contacted this March by University officials who told her that Princeton in the Middle East, the post-graduate fellowship program she had founded along with other University alumni, would have to remove the “Princeton in” construction from its name because it suggested that the independently established organization had an affiliation to the University and thus created confusion. PriME is one of many outside organizations that have fallen into the gray area as to whether or not they should be allowed to use the word Princeton in their name.

NEWS | 05/11/2014

CPS denies existence of ‘watch list,’ ODUS involvement in mental health evaluations

The Daily Princetonian

CPS denies existence of ‘watch list,’ ODUS involvement in mental health evaluations

Jacob Donnelly

Counseling and Psychological Services does not maintain a “watch list” of students of concern that it shares with the Office of the Dean of Undergraduate Students, CPS director Calvin Chin and Associate Dean of Undergraduate Students Michael Olin said at a dialogue about mental health evaluations between students and administrators Friday afternoon. The dialogue followed an initial dialogue that took place on Tuesday.

NEWS | 05/11/2014

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